Stored energy helped GMP save $500K during heatwave

Vermont Business Magazine The heat wave is over, the numbers are in, and Green Mountain Power’s innovative network of Tesla Powerwall batteries in customers’ homes, and larger community storage with solar installations, helped GMP cut carbon and costs for customers. GMP leveraged stored energy to accomplish the equivalent of taking 5,000 homes off the grid, creating savings for customers that could reach $500,000.

“This is a game changer. We’re thrilled that our work to be on the edge of innovation and deploy these new technologies in partnership with customers and communities is really paying off for all of the customers we serve,” said Mary Powell, GMP’s president and CEO. “During the heat wave, we were able to leverage these innovations to think differently about managing the energy system affordably, allow our customers to use their cooling systems to stay safe and comfortable, all while lowering the peak, ensuring the stability and safety of the grid, and driving down costs.”

Along with GMP’s solar-storage facilities in Rutland and Panton and about 500 Tesla Powerwalls, GMP also has partnerships with thousands of customers to tap into stored energy in their water heaters or reduce electricity flow through their EV chargers when power demand is high, increasing savings for all customers. During the hours of peak demand, this helped GMP offset approximately 17,600 pounds of carbon, the equivalent of not using about 910 gallons of gasoline. GMP’s everyday power sources are 90 percent carbon free.

“This is what our energy future looks like, and it is here now. GMP is delivering on the promise of innovations to drive those costs down during peak demand times, and that is key to help all customers save money. Our goal is to continue to expand our network of stored energy and low-carbon solutions to benefit all of our customers,” Powell said.

GMP customer Mike Wheeler kept track on an app while GMP drew from shared energy in his Powerwall during a hot afternoon. “It was so cool! I thought, ‘it’s going to grid right now,’“ Wheeler said. “We signed up to have Powerwall battery backup at home so our family can get through occasional outages and not rely on a fossil fuel generator. But, knowing our choice to get a Powerwall helped all GMP customers to cut costs during the heatwave is a great extra benefit, like you’re doing something for the common good.”

According to ISO-NE, regional power demand hit its peak so far this year between 5 p.m. and 6 p.m. Thursday, July 5. The yearly regional peak hour is used by ISO-NE to calculate annual grid costs for utilities, so reducing power demand during that hour can produce significant savings for customers. 2018 is not over, so GMP will continue to monitor demand, and deploy its growing network of stored energy to offset carbon and costs for customers.

About Green Mountain Power

Green Mountain Power (GMP) serves approximately 265,000 residential and business customers in Vermont and is partnering with customers to improve lives and transform communities. GMP is focused on a new way of doing business to meet the needs of customers with integrated energy services that help people use less energy and save money, while continuing to generate clean, cost-effective and reliable power in Vermont. GMP is the first utility in the world to get a B Corp certification, meeting rigorous social, environmental, accountability and transparency standards and committing to use business as a force for good. In 2014, Vote Solar named GMP a Solar Champion. More information Connect with GMP onFacebookand follow us onTwitter @GreenMtnPower.

Source: GMP 7.12.2018